Math Problem Statement

Find the future value if $2000 is invested for 10 years at 13% compounded annually. (Round your answer to the nearest cent.) $

Solution

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Math Problem Analysis

Mathematical Concepts

Compound Interest
Exponents
Algebra

Formulas

A = P(1 + r/n)^{nt}

Theorems

Compound Interest Theorem

Suitable Grade Level

Grades 9-12